The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: The Cost Basis Crisis||Date: 7/3/2006 8:52 AM|
|Author: bacon||Number: 87644 of 120426|
However, people are not reporting them correctly, either through negligence or fraud.
Couldn't possibly be due to simple error, or an inability to keep up with obtuse IRS pubs. Or, more rarely, actually following erroneous IRS advice.
If you're done nothing wrong then there is no problem.
It's exactly this sort of governmental arrogance that drove our Founding Fathers to write into the Constitution a requirement for warrants and subpoenas.
...everyone should be able to keep track. If you can't, then you should be investing in index funds, not individual stocks.
So now you'd have the government dictate to us suitable investment vehicles, even when that government refuses to provide accurate, timely advice on the tax implications of same. Oh, wait--the government already does, with our retirement money. That's why we don't have privatized social security--we're all even dumber than the government when it comes to managing our retirement funds--we're just too stupid to be trusted with our own money.
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